Newsletter Contents: 1. SEBI UPDATES 2. MCA UPDATES 3. RBI UPDATES 4. IBC UPDATES 5. LABOUR LAW UPDATES 6. PRESS INFORMATION 7. IPO & INVESTMENT UPDATES 8. IRDAI UPDATES 9. DEPARTMENT OF TELECOMMUNICATIONS 10. MSME UPDATES 11. COMPETITION COMMISSION OF INDIA 12. CURRENT AFFAIRS FAQ’s
1. SEBI Updates:
| [Sl. | Particulars | Link |
| 1 | India International Trade Fair 2022 | Click Here |
| 2 | Registration and regulatory framework for Online Bond Platform Providers | Click Here |
| 3 | Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations 2015 [Last amended on November 14, 2022] | Click Here |
| 4 | Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) (Sixth Amendment) Regulations, 2022 | Click Here |
| 5 | Notice convening meeting of the Equity Shareholders and Unsecured Creditors of Sundaram-Clayton Limited as per the directions of the Hon’ble National Company Law Tribunal, Chennai | Click Here |
| 6 | Securities Contracts (Regulation) (Stock Exchanges and Clearing Corporations) (Second Amendment) Regulations, 2022 | Click Here |
| 7 | Securities and Exchange Board of India (Alternative Investment Funds) (Fourth Amendment) Regulations, 2022 | Click Here |
| 8 | Securities Contracts (Regulation) (Stock Exchanges and Clearing Corporations) Regulations, 2018 [Last amended on November 15, 2022] | Click Here |
| 9 | Review of SEBI (Buyback of Securities) Regulations, 2018 | Click Here |
| 10 | Securities and Exchange Board of India (Mutual Funds) (Third Amendment) Regulations, 2022 | Click Here |
| 11 | Guidelines for AIFs for declaration of first close, calculation of tenure and change of sponsor/manager or change in control of sponsor/manager | Click Here |
| 12 | Scheme(s) of Arrangement by entities who have listed their Non-convertible Debt securities (NCDs)/ Non-convertible Redeemable Preference shares (NCRPS) | Click Here |
2. MCA – 21 Updates
| Sl. | Particulars | Link |
| 1 | BE(A)WARE booklet on measures the public should take to overcome fraudulent schemes | Click Here |
| 2 | During the Special Campaign 2.0, 23 identified campaign sites located in different offices of this Ministry have been cleaned. Nearly Ninety Thousand files have been weeded out. Further, all pending PMO & MP references have been disposed. Also, scrap material amounting to Rs. 22 Lakh (approx.) has been disposed-off. | Click Here |
| 3 | Public Notice U/s. 75 of LLP Act, 2008 read with Rule 37(2) of the LLP Rules, 2009 | Click Here |
| 4 | Revised combination assessment timelines under competition law soon: MCA | Click Here |
| 5 | Corporate Affairs Ministry to withdraw over 10,000 court cases for this reason – check details | Click Here |
3. RBI / Banks Updates
| Sl. | Particulars | Link |
| 1 | Agency Commission for Direct Tax collection under TIN 2.0 regime | Click here |
| 2 | Exim Bank’s GoI supported Line of Credit of USD 300 Mn to the SBM (Mauritius) Infrastructure Development Company Ltd. for Construction of Phase-IV of the Mauritius Metro Express Project in Mauritius | Click here |
| 3 | Formation of new districts in the State of Nagaland – Assignment of Lead Bank Responsibility | Click here |
| 4 | Award scheme for writing books originally in Hindi on Economics/Banking/Financial subjects – Year 2021-2022 | Click here |
| 5. | 29th Meeting of the FSDC Sub-Committee | Click here |
| 6. | Money Supply for the fortnight ended November 04, 2022 | Click here |
| 7. | RBI Bulletin – November 2022 | Click here |
| 8 | Reserve Bank of India – Bulletin Weekly Statistical Supplement – Extract | Click here |
| 9 | Premature redemption under Sovereign Gold Bond (SGB) Scheme – Redemption Price for premature redemption due on November 19, 2022 (November 20, 2022 being a Sunday) (SGB 2017-18 Series VIII) | Click here |
| 10 | RBI releases “Handbook of Statistics on Indian States, 2021-22” | Click here |
4. IBC / Insolvency Law updates
| Sl. | Particulars | Link |
| 1 | In the matter of Ms. Sonu Jain, Insolvency Professional | Click here |
| 2 | In the matter of Mr. Gopal Lal Baser, Insolvency Professional | Click here |
| 3 | File for insolvency after 90-day default: IBBI Chief tells lenders | Click here |
| 4 | Creditors recovered a third of claims in 553 resolved CIRP cases: IBBI data | Click here |
5. Labour law updates
| Sl. | Particulars | Link |
| 1 | Fired SpaceX employees accuse company of violating labor law | Click here |
| 2 | BYJU’S Layoffs: Employee Unions Cite Labour Law Violations, Prepare For A Legal Fight | Click here |
| 3 | NITES writes to Labour Minister over Amazon layoffs, alleges violation of labour laws | Click Here |
| 4 | EPFO: How to check your EPF claim status online | Click Here |
| 5 | How will I be taxed on my EPF withdrawal? | Click Here |
| 6 | When will EPF interest be credited for FY22 — know the process and reason for delay | Click Here |
6. Press information
| Sl. | Particulars | Link |
| 1 | Inflation falls to single digits; Annual rate of inflation based on all India Wholesale Price Index (WPI) number is 8.39% (Provisional) for the month of October, 2022 (over October, 2021) against 10.70% recorded in September, 2022 | Click here |
| 2 | MoS (Education) Dr. Subhas Sarkar releases AICTE Engineering books in Marathi language | Click here |
| 3 | Stage III of the GRAP REVOKED in entire NCR with immediate effect | Click here |
| 4 | Department of Pension & Pensioners’ Welfare, Ministry of Personnel, Public Grievances and Pensions, Government of India has launched a nation-wide campaign for promotion of Digital Life Certificate for Central Government pensioners | Click here |
| 5 | Power System Operation Corporation Limited is now Grid Controller of India Limited | Click here |
| 6 | Department of Animal Husbandry and Dairying initiates the process for integration of infrastructures of the department with PM Gati Shakti-National Master Plan | Click here |
| 7 | ATL Schools across India celebrate Children’s Day with Mega Tinkering Activity and interaction with CEO, NITI Aayog | Click here |
| 8 | Roundtable of Secretary, M/o Food Processing Industries with leading Agri-Food companies on the activities related to International Year of Millets & Mega Food Event 2023 | Click here |
| 9 | Press Council of India Celebrates National Press Day | Click here |
| 10 | DOPPW’s Nationwide Campaign for Submission of Digital Life Certificates by Pensioners successfully running all around the country | Click here |
| 11 | Digitalization of land records will result in transparency and empowerment of rural India : Shri Faggan Singh Kulaste, Union Minister of State for Rural Development | Click here |
| 12 | NCW launches Digital Shakti 4.0 focussing on making women digitally skilled and aware | Click here |
| 13 | IFSCA executes MoU with the Reserve Bank of India (RBI) | Click here |
| 14 | Media Reports claiming regulatory approval for Covaxin was rushed due to Political Pressure are Misleading and Fallacious | Click here |
| 15 | After assuming the G20 Presidency, Shri Narendra Modi Government to assume the Chair of Global Partnership on AI (GPAI) | Click here |
7. IPO & investment Section
| Issuer Company | Exchange | Open | Close | Lot Size | Issue Price (Rs) | Issue Size (Rs Cr) |
| AMBO Agritec Ltd IPO | BSE, SME | Nov 21, 2022 | Nov 24, 2022 | 4000 | 30 | 10.20 |
Key Updates in Brief {Source- ET, BS etc.}
1. IPOs in India likely to gain more traction amid high-interest rates
The year 2021 saw a blockbuster run of IPOs in India. Primary markets witnessed an all-time high number where 64 companies raised 1.19 lakh crores through initial public offering.
The pace has slowed down ever since. Will we see companies going for IPOs anytime soon? Is this the right time to invest in IPOs? We’ll try to answer all your questions in this article.
Before jumping into any statistics, let’s discuss what the macroeconomic situation has been over the last 10 months. The economy has witnessed a roller coaster ride of events, from the Russia-Ukraine War to skyrocketing inflation, markets have seen it all. High commodity prices have hit companies’ margins all over the world.
Central banks around the globe have been increasing interest rates to curb inflation. Such news has impacted the markets negatively. While everyone around us is hearing big negative words like recession and hyperinflation, there is still a ray of hope.
The abundance of capital coupled with feasible government policies has made India a good investment destination. New-age businesses and SMEs are rapidly moving to the growth stage with greater shifts on profitability and outlook along with business differentiation.
The economy is thriving, and we are hopeful that India would witness a greater number of unicorns in the coming years. We’re truly on the path of becoming self-reliant, in terms of production as well as investments.
- To read more: Click Here
2. Selloff by early investors hits newly listed, high-profile cos
Paytm’s stock tanked 10% to Rs 540 on Thursday as one of its early backers, Japanese private equity giant SoftBank, sold 2.9 crore shares of the payments services company through block deals. Similarly online beauty product retailer Nykaa’s stock fell 7% intraday, weighed down by a block offloading of over 5.7 crore shares.
By the close of trading, however, Nykaa’s stock price recovered to close flat at Rs 185. With the post-IPO lock-in of shares ending for large investors, who had bought the stakes when these companies were private, market players feel there’s more pain for these scrips. For one, these stocks are expected to be weighed down further by large-size selling by early backers. Secondly, fearing a large sell-off, prospective investors will also be cautious to buy these stocks, a trader said.
And when we compare the current market capitalisation of these companies to what it was at listing, total loss is a staggering Rs 3.1 lakh crore. Of this, nearly half — Rs 1.5 lakh crore — is because of the massive slide in the stock price of life insurance major LIC. From its IPO price of Rs 949, the stock is trading at Rs 644, down 32%.
- To read more: Click Here
3. FHRAI writes to Sebi to stop OYO from launching IPO after CCI penalty
Federation of Hotel & Restaurant Associations of India on Tuesday said it has written to Sebi to stop OYO from launching its IPO in the wake of a penalty imposed by the Competition Commission of India on the hospitality and travel-tech firm for unfair business practices. OYO, however, said the Federation of Hotel & Restaurant Associations of India (FHRAI) is misrepresenting the CCI order and the letter to Securities and Exchange Board of India (Sebi) is to distract attention from the executive committee meeting of FHRAI being held as null and void by the NCLT, which has also ordered a court-monitored AGM of the hospitality industry body.
In October this year, the Competition Commission of India (CCI) slapped penalties totalling more than Rs 392 crore on online travel firms MakeMyTrip, Goibibo, and hospitality services provider OYO for indulging in unfair business practices.
When contacted, a spokesperson of OYO said, “FHRAI is also completely misrepresenting the CCI order, by claiming (the aggregators were) ‘found to be indulging in predatory pricing, exorbitant and unfair commissions, misrepresentation of information and arbitrarily levied service fees’. We hope that the regulator takes note of this wilful misrepresentation of its order.” FHRAI said in 2019, it had filed a complaint against OYO and Make My Trip-Goibibo with the CCI and alleged that OYO’s systemic depredation of the budget segment hotels caused serious distress to the hospitality sector of the country.
- To read more: Click Here
8. irdai – insurance updates
| Sl. | Particulars | Link |
| 1 | Participation in Account Aggregator Framework | Click here |
| 2 | Regarding the use of out-of-date Operating System (OS) and IT Equipments | Click here |
| 3 | IRDAI’s proposals may limit setting-up of new insurance companies; here’s how | Click Here |
| 4 | IRDAI board likely to discuss key reforms on commission, bancassurance on Nov 25 | Click Here |
| 5 | Bima Sugam to be a game changer for the insurance sector: IRDAI chairman | Click here |
9. Department of Telecommunications (dot)
| Sl. | Particulars | Link |
| 1 | DoT reiterates its commitment to the development of Tribal communities on ‘Janjatiya Gaurav Divas’ | Click here |
| 2 | TRAI organises Conference on ‘Rating of Buildings or Areas for Digital Connectivity’ | Click here |
| 3 | TRAI releases recommendations on “Regulatory Framework for Promoting Data Economy Through Establishment of Data Centres, Content Delivery Networks, and Interconnect Exchanges in India” | Click here |
| 4 | Telecom Bill in current form may trigger DoT-I&B tussle: Experts | Click here |
| 5 | DoT extends deadline for public comments on draft Telecom Bill to November 20 | Click here |
| 6 | DoT asks telcos to bar SMS for 24 hrs on new SIM cards | Click here |
| 7 | 5G to enable IPR, create jobs locally: Telecom secretary | Click here |
10. msme / SME updates
| Sl. | Particulars | Link |
| 1 | Plastic industry has a key role in realizing the goal of ‘Atmanirbhar Bharat’ – Union Minister Narayan Rane | Click here |
| 2 | FISME writes to FM Nirmala Sitharaman to introduce surety bonds to make public procurement inclusive for MSEs | Click here |
| 3 | Tata Power Solar Systems & Union Bank to help MSMEs meet solar rooftop need | Click here |
| 4 | Public procurement: MSME ministry urges CPSEs to proactively support SC/ST, women entrepreneurs | Click here |
11. Competition Commission of India (CCI)
| Sl. | Particulars | Link |
| 1 | Why merging GST NAA with CCI may not be a prudent move | Click here |
| 2 | CCI needs an update to ensure fair play in digital economy, say experts | Click here |
| 3 | CCI Imposes ₹936.44 Crore Cost On Google, Says Google Play’s Mandatory Billing System For Paid Apps & In-App Purchases Unfair | Click here |
12. Cabinet Decisions / New Acts
| Sl. | Particulars | Link |
| 1 | Draft notification issued to supersede the All India tourist vehicle (Authorisation or Permit) Rules, 2021 | Click here |
| 2 | Madhya Pradesh notifies PESA Rules on the occasion of Janjatiya Gaurav Divas | Click here |
| 3 | MeitY invites feedback on the draft ‘Digital Personal Data Protection Bill 2022’ | Click here |
| 4 | Government withdraws export duty on Steel | Click here |
| 5 | Punjab cabinet approves old pension scheme | Click here |
13. Current Affairs Quiz (taken from various sources)
| Sl. | Questions | Answers |
| 1 | India is set to unveil ‘Young Professionals Scheme’ with which country? | United Kingdom |
| 2 | ‘Respect for Marriage Act’ is associated with which country? | USA |
| 3 | Donyi Polo Airport has been inaugurated in which state/ UT? | Arunachal Pradesh |
| 4 | Which state hosted the 2nd edition of North East Olympic Games in 2022? | Meghalaya |
| 5 | Which institution launched the ‘Digital Shakti Campaign 4.0’ Campaign? | National Commission for Women (NCW) |
| 6 | Which state organised the silver jubilee edition of its Tech summit? | Karnataka |
| 7 | Who has been recently appointed as the fourth full-time member of NITI Aayog? | Arvind Virmani |
| 8 | ‘Artemis’ is the name of the Moon Rocket launched by which country? | USA |
| 9 | What is the theme of India’s G20 Presidency in 2022? | One Earth, One Family, One Future |
| 10 | Which country is the host of the 19th Conference of the Parties to CITES? | Panama |
- Top 10 Current Affairs:
- As per the ‘World Population Prospects 2022’ report, that the world’s population will reach 8 billion on November 15, 2022.
India, with a current population of 1.412 billion, will surpass China, with a current population of 1.426 billion, next year.
- Indonesia signed Just Energy Transition Partnership, or JETP, with international lenders and major nations on the sidelines of the G-20 summit in Bali
- The ‘Global Shield’ insurance initiative was officially launched by the G7 and the V20 group of 58 climate vulnerable nations at the COP27 climate summit in Egypt.
Germany will provide USD 172 million to the initiative to help low-income and vulnerable countries to rebound in the event of climate calamities. Countries like Canada, Ireland and Denmark have so far pledged a further €40 million to the initiative. The US President also announced to support the initiative.
- India’s first National Repository for Life Science data was unveiled by Science and Technology Minister Jitendra Singh. The National Repository for Life Science data was generated from publicly-funded research in India. The ‘Indian Biological Data Centre’ (IBDC) was established at the Regional Biotechnology Center. It has a storage capacity of four petabytes and is also home to the ‘Brahm’ High-Performance Computing facility.
- The Unique Identification Authority of India (UIDAI) presented the brand-new AI/ML chatbot Aadhaar Mitra in order to facilitate citizens’ usage of the services. Both Hindi and English are available for the chatbot. For the purpose of teaching viewers, it also offers the option of viewing related videos on specific themes.
- Kerala becomes the first state in India to launch uniform gold prices based on the bank rate. The decision to introduce a uniform price on 916 purity 22- carat gold has been taken at a meeting between officials of Malabar Gold and Diamonds and key members of the All Kerala Gold and Silver Merchants Association.
- Bharat Sanchar Nigam Ltd (BSNL) received a nod from Central Government to go ahead with Rs 26,821 crore deal with Tata Consultancy Services (TCS) paving its way to launch 4G services in India. TCS is ready to set up the 4G lines and maintain the network for nine years. BSNL will give Rs 10,000 crore worth of purchase orders to TCS soon.
- Indian Navy conducted ‘Prasthan’, structured exercise to evaluate organisational effectiveness in protecting offshore assets off Mumbai on an Oil and Natural Gas Corporation (ONGC) platform.
- India announced an additional contribution of USD 5 million to the ASEAN-India science and technology fund.
- India recently submitted its Long-Term Low Emission Development Strategy to the United Nations Framework Convention on Climate Change (UNFCCC) at COP 27.
The End
Disclaimer: This write – up is prepared as a Knowledge Sharing Initiative. *Every effort has been made to avoid errors or omissions in this material. In spite of this, errors may creep in. Any mistake, error or discrepancy noted may be brought to our notice which shall be taken care of in the next edition. . In no event the author shall be liable for any direct, indirect, special or incidental damage resulting from or arising out of or in connection with the use of this information.
